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Saturday, 22 July 2017

Maha RERA allows builders to correct project docs from Sept

MahaRera announced the changes on Monday through a circular
issued to encourage developers to speed up the registration of their projects
with the authority

PUNE: Developers can
from September 1 make revisions or corrections in their uploaded documents
following MahaRera's permission and a fee of Rs 5,000 for every change.

MahaRera announced
the changes on Monday through a circular issued to encourage developers to
speed up the registration of their projects with the authority.

The new circular
comes a relief for the developers, who had repeatedly said that they should be
allowed to correct the documents uploaded and cleared by MahaRERA. The earlier
rules did not allow them to make any such revisions and corrections.

With MahaRERA
estimating that there are over 10,000 ongoing projects in the state, there was
less than 5% registration by developers till July 15.

"Till Wednesday,
we saw 898 developers registering with us. We hope that the registration with
MahaRERA for the ongoing projects will speed up after the new circular,"
MahaRERA secretary Vasant Prabhu said.

He added that with
every revision or correction, they would have to pay a fine as stated in the
circular put up on the website. Besides the correction clause, the circular
also mentions project detail updates within three months from registration.

Credai Maharashtra
president Shantilal Kataria said the new circular would encourage the
developers to upload their documents sooner. "In the last two days, more
than 400 projects have been registered. We are urging all developers to
register with MahaRERA as soon as possible," he said.

A developer, who did
not want to be named, said the scope to make revisions or corrections was a
long-pending demand of the developers. 'They should have done it a month ago.
It would have made the builders feel confident to register their projects
earlier," he said.